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Description

The First Pillar Dollar

Felipe V Pillar 8 Reales 1732 Mo-F, KM103, Cayon-9349, Calico-692, AU58 PCGS. 1732 was a very important year in history and in numismatics for Spanish colonial America. Felipe V, the first king of the Spanish-Bourbon dynasty (which still reigns today), was actually twice in power. The first period was from 1700 to 1724, when he abdicated in favor of his oldest son Louis I. His untimely death in 1724 brought Felipe back to the Spanish throne, where he remained until his death in 1746. It was in 1732, during Felipe V second reign, that the gold coinage of Mexico was changed from the cob to the portrait or bust type. Silver coinage also changed from the cob to the pillar or columnar type. On March 29, 1732, the striking of circular coins authorized by the royal decree of 1728, began at the Mexico City Mint and the first "Pillar" was struck. On the obverse, the design included the crowned pillar of Hercules and between them two globes surmounted by a crown, resting above a wavy ocean which points to the separation of the two worlds. Around the edges "Utraque Unum" (Both are One). On the reverse are the crowned coat of arms of Castile and Leon with the Bourbon shield superimposed. The legend reads Philip.V.D.G.Hispan.Et.Ind.Rex, the value "8" as well as the Assayer's initial "F", are both located between rosettes. Striking of the Pillar 8 Reales was later extended to several Spanish colonies and circulated widely throughout the Americas being legal tender in the United States during several decades of the 18th century. The Pillar 8 Reales remains one of the most popular and beloved coins amongst collectors today. The specimen presented here is one of the greatest and rarest Pillar 8 Reales that exists. In near Mint State condition, this coin has beautiful and colorful toning and it will undoubtedly become a showcase piece for the most advanced collection. A similar but uncertified piece was sold in our May 2008 Long Beach for $86,250. Krause catalog price(s) for this item: $8000 in VF, $15000 in EF.

Please note: Many Krause World Coin catalog prices are updated infrequently. Therefore this information is offered to bidders as a time-saving convenience only. Some Krause prices may be outdated and/or inaccurate due to fluctuating markets, newly discovered hoards, data entry errors (whether on Krause's part or ours) or other factors.

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Auction Dates
April, 2013
18th-23rd
Internet/Mail/Phone Bidders: 1
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